Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – a record for an F1 team – following McLaren were valued at £3.5 billion in a change of ownership structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own a third of the company.
An official representative said: "We are providing no official statement on this. The management structure of Mercedes F1 will remain unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Increase
The deal would represent a significant increase in worth of Mercedes F1 after Ineos Group acquired its stake for £208 million in 2022.
This surge demonstrates the expansion in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and earned over $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports movie to date.
Present Performance
Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three races remaining this season.
Mercedes' primary racer George Russell has won 2 of the 21 races this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
